There are over 15,000 shared office facilities in the world as of the first half of 2020. In Dubai, the increasing global popularity of co-working spaces is also mirrored. Coworking currently covers more than 650,000 sq. ft according to latest estimates. These are based in the city and comprises more than 50 co-working facilities. It is crucial to weigh a variety of critical considerations when finding the right coworking space, with several coworking spaces to choose from in Dubai.
What Does Co-Working Mean?
Coworking comes from the combination of 2 words: co (short for co-operative) and working. Coworking involves operating in a joint cooperative setting, though not actually working with the same organization, to better illustrate this. As cities across the world are attempting to establish themselves as business centres, co-working spaces have emerged at an impressive rate. These spaces were initially built to provide inexpensive office space for start-ups, but they have grown over the years to become hubs of collaboration for start-ups, freelancers, and even salaried employees searching for anything a bit different than what they are used to in the office.
Big corporations like HSBC are adopting the proposal. Instagram and Uber both begun their journeys by using this idea. The problem remains; what could coworking spaces do for your organization?
- Save you money on office costs and attract talent
- Create flexibility without the distractions of home
- Help small teams network and grow
- Meet the work culture expectations of Generation Z
Who Needs Co-Working Spaces?
So, who is co-working ideal for? Based on research, we found that there are three main types of people that benefit from co-working:
- Businesses looking to expand to new markets. If a company is looking to start doing business in new geography, it often makes sense to start small by joining a coworking space, before they start renting out their own offices.
- Startups looking for a place to grow from. If you’re in your startup journey, you need an affordable place to work and a supportive community. Coworking spaces provide both of those.
- People working on side hustles. If you’re still working a 9 to 5, you may want a nice clean reliable space to work in after-hours. Coworking spaces can be perfect for that, and often have special after hour deals.
Why Should You Use Co-Working Spaces?
Maybe you’ve got a few questions. Why should you choose to use a co-working space? Why is it easier for a shared workspace than a normal office? What are the advantages of a co-working environment? Well, by listing the explanations why you, as an entrepreneur, can select co-working spaces in Dubai, we will answer these concerns.
Saves Time & Money
It’s a truth, coworking is economical for smaller teams. You will pay a cheaper amount and increase the cash flow by spending annually instead of paying for leases, services, facilities and even company license fees in a lump sum. In general, the expense of desks in coworking areas is smaller. You will have connections to all your workplace mod-cons at a monthly cost, from speedy Wi-Fi to Skype pods. In fact, linking up seriously lowers start-up logistics and stress for new firms, when it is immediately at the fingertips. All you have to do is crank your empire on, click on, and expand.
The key attraction to coworking spaces is the simplicity of plug and play. You don’t have to think about ordering chairs, paying for electricity, buying coffee, setting up Wi-Fi, or even cleaning bathrooms! You’re just signing up for a coworking space and going to work. Some Dubai coworking spaces also have a dedicated account manager with streamlined business setup and registration, which saves you a lot of time when registering your business in the UAE.
The work atmosphere is one of the explanations for why people look for a co-working space. In a crowded audience, certain individuals work well, while others enjoy a calm, laid back environment. For members, most coworking spaces organize events such as networking sessions or conferences. Be sure to engage in these events to build a collaborative atmosphere and expand your professional network if you have the chance.
It is crucial to decide the preferences while finding a coworking space and making an educated decision on where and how you function best. Be sure to make the most of it after you have found the perfect shared office room.
Greater Exposure to Industries & Learning
Coworking introduces you to a diverse pool of skilled professions in which you may never come into touch under varying circumstances. There might be an accountant on the left of the desk, an app builder on the right, and a physicist on the opposite side. Chances are, something from all of them can be learned. A start-up owner with a highly powerful management style, or an executive who displays invaluable presenting abilities, can be recognized. Every day, you will be surrounded by learning opportunities and advisors and motivators inside such a special hub.
Ease of Access
The simplicity of accessibility and transportation is just another factor to take into consideration. Part of becoming a freelancer or working for yourself, particularly during rush hours, is removing the stress of long commutes to the workplace. Find a place for coworking that offers you comfort and ease of access. Many coworking spaces are open to public transit which will help you from wasting traffic time.
Leases appear to cover periods of many years, and an expenditure commitment which will continue for a decade or longer is to own a building. On the other side, the shared office space may be reduced to a weekly, regular, or hourly cost in certain situations. It encourages firms to choose flexible terms because they are not trapped in a long-term deal. The versatility to scale up or down at speed is a must for industries who depend on being agile, or that operate in fast-moving sectors.
The enhanced versatility in terms of contracts often ensures that now, even with fewer teams, it is easier to build a company from scratch even sooner. Even, entrepreneurs who chose to operate in open spaces have the time to spend on their key tasks. They have fewer roles to think about. The building’s occupants take control of mundane things including cleaning and repairs.
Sense of Community
Not just a place to do business, coworking spaces present an environment that brings like-minded individuals together to grow their companies, achieve their goals, and, ultimately, succeed. Working in an open and fluid environment means that members get a unified sense of solidarity and support that doesn’t exist in a stuffy office set-up. Humans have an in-built need for connection, and studies have long shown that a sense of belonging can boost your happiness and health – ultimately, a crowd can solve a problem that a cubicle can’t.
Famous Coworking Spaces Around Dubai
The emirate is home to some really interesting coworking spaces that cater to a variety of needs. Although there are over 30 coworking spaces in Dubai, we’ve compiled some of the renowned ones for your convenience:
- Impact Hub Dubai
- MyOffice Level 29
- The Shelter
- Dubai Technology Entrepreneur Centre
- The Bureau
- The Cribb
- The Co-working Café
Companies with creative notions of what office culture should look like, such as Google and Facebook, have created a new world. And it’s wise to evolve if you’re planning on attracting a new wave of talent. Coworking culture is establishing itself as a key component of modern business models. There is a strong possibility that your startup or SME may benefit from using the strategy to save money, boost growth, increase creativity, and cultivate success in a rapidly evolving world.
Our advisors at Riz and Mona Consultancy can guide you further on coworking spaces in Dubai. Contact us today to book your appointment.